Here's a really simple savings plan that anyone should be able to do and end up with $1,378 or more saved by the end of the 52 weeks. It starts with saving just $1 the first week. The next week, save $2. The third week, save $3...and so on. While these are tiny amounts, as the chart below shows, they add up to a big difference. Whether you're still working on your emergency fund or want to earmark these savings for something special, it'll be gratifying to see your savings grow each week.

For even more savings, do it in reverse. Start with week 52 and go backwards, so you can take advantage of greater compounding in your savings account and it may be easier to save the smaller weeks in December when budgets get tighter around the holidays.

The 52 Week Money Challenge has been floating around the internet for a couple years, so we can’t take credit for the concept but it is a great challenge to help you save a little extra cash. You don’t even have to wait for the beginning of the year, you can get a jump on it now. It’s never too late to start saving!

MORE MONEY SAVING TIPS

Never spend change

Each day, put the coins from your pocket or purse in a jar. When the jar is full, deposit that money in your savings account.

Pay yourself first

Always have something direct deposited into a savings account from your paycheck. Even if it is only $25, that's better than $0, and it adds up over time. Power Banking is a great tool to use to automatically transfer money each month automatically!